Lawmaker seeks to limit ability to invest campaign funds

An East Tennessee Republican wants to limit the ability of state legislators to invest campaign money in companies, which was done by expelled former Rep. Jeremy Durham.

Sen. Doug Overbey, R-Maryville, introduced a bill Thursday requiring any investment of campaign funds to only be in a traditional bank or credit union account that has federal backing.

The measure comes more than five months after The Tennessean reported that Durham invested campaign money in the company of Andrew Miller, a well-known Republican donor.

Although such investments are not illegal in Tennessee, other states limit lawmakers to investing campaign money only in federally backed accounts.

Read more: http://www.commercialappeal.com/story/news/politics/2017/02/03/lawmaker-seeks-limit-ability-invest-campaign-funds/97441410/